NGX: Value of transactions down by 33.09%

The value of transactions on the Nigerian Exchange Ltd. (NGX) declined by 33.09 per cent on Thursday. Investors traded 277.75 million shares valued at N4.65 billion in 7,091 deals, compared to 356.13 million shares valued at N6.95 billion exchanged in 8,582 deals on Wednesday.

As a result, the market capitalisation shed 0.01 per cent or N5 billion, dropping from an opening of N56.019 trillion to close at N56.014 trillion. The All-Share Index, which opened at 97,487.14, also closed 0.01 per cent or 10 points lower, settling at 97,477.19. Consequently, the Year-To-Date (YTD) return fell by 30.36 per cent.

Selloffs in stocks such as United Bank for Africa (UBA), Access Corporation, Fidelity Bank, Wema Bank and Nigerian Breweries contributed to the negative market performance. However, market breadth closed positively, with 23 gainers and 22 losers.

On the gainers’ log, Regency Alliance Insurance led by 6k to close at 66k, Caverton followed with 22k to close at N2.48 per share.

Royal Exchange also gained 6k to close at 75k, ABC Transport advanced by 10k to close at N1.32, while UPL rose by 17k to close at N2.55 per share.

On the other side, Daar Communications led the losers’ log by 7k to close at 63k, Livestock trailed by 34k to close at N3.10 per share.

Sunu Assurances declined by 17k to close at N1.58, Fidson Healthcare Plc went down by N1.50 to close at N13.95, while Consolidated Hallmark Holdings dropped 13k to close at N1.27 per share.

Meanwhile, Fidelity Bank led the activity log in volume with 43.34 million shares while United Bank For Africa (UBA) led in value in deals worth N956.67 million.